Wienerberger AG · VIE:WIE
Wienerberger — Q1 2013 Earnings Presentation
13 slides from Wienerberger's earnings presentation, May 8, 2013
Slide 1: Investor and Analyst Presentation: Financial Results Q1 2013
Investor and Analyst Presentation Financial Results Q1 2013 May 8, 2013 Disclaimer Cautionary note regarding forward-looking statements The information contained in this document has not been independently verified and no representation or warranty expressed or implied is made as to, and no relian
Slide 2: Overview Q1 2013 and Income Statement
Overview Q1 2013 Cold and snowy winter results in pronounced volume decline in the Bricks & Tiles Europe Division Cost savings from restructuring program cannot fully compensate the volume related earnings decline Significant revenue and earnings growth in the Pipes & Pavers Europe Division
Slide 3: Revenue Bridge and EBITDA Change by Segment
Consolidation Effect Compensates Organic Revenue Decline 500 +50% 491.9 450 +34% 400 Revenues increased 366.8 by 34% in € mn 350 14% organic volume -14% decline 300 -2% -0.4% 2% decline in 250 average prices -0.4% FX effect 200 Revenue Q1 12 Sales Volume Sales Prices FX Effect Consolidation Ef
Slide 4: Cash Flow Development and Development of Net Debt
Cash Flow Development in € mn 1-3/2012 1-3/2013 Chg. in € mn Chg. in % Gross cash flow 1.8 -18.0 -19.8 <-100 Change in working capital 1) -114.8 -205.7 -90.9 +79 Normal investments -20.8 -20.7 0.1 0 Divestments and other +1.4 +1.9 0.5 0 Free cash flow -132.4 -242.5 -110.1 +83 Growth investments -0.4
Slide 5: Strong Balance Sheet and Wienerberger Bond 2013
Strong Balance Sheet Q1 13 Development Dominated by WC Build-Up Chg. in % in € mn 31/12/2012 31/3/2013 vs. 2012 Equity 1) 2.364 2.272 -4 Net debt 602 878 +46 Equity ratio 57% 56% - Gearing 26% 39% - Changes to net debt: Build-up of Working Capital Q1 13: € 205.7 mn 1) Including non-controlling int
Slide 6: Strong Liquidity and Term Structure; Dividend for FY 2012
Strong Liquidity and Balanced Term Structure Cash 31/3/2013: € 66.7 mn Balanced Term Structure: 600 Bond 2013-2020: 500 Bond 2013-2020: € 300 mn 400 € 300 mn 300 Hybrid 200 100 0 2013 2014 2015 2016 2017 2018+ WB Maturities Cash Balance Targets: Maintain financial discipline Balanced repayme
Slide 7: Wienerberger Segments: Bricks & Tiles Western Europe
Wienerberger Segments 13 Bricks & Tiles Western Europe Results 1-3/2013 Share of Group Ext. B&T Western Europe (in € mn) 1-3/2012 1-3/2013 Chg. in % Revs. 1-3/2013 External revenues 242.8 195.6 -19 Operating EBITDA 1) 13.1 0.3 -98 40% Operating EBITDA margin 5.4% 0.2% - Operating EBIT 1) -10.1 -22.1
Slide 8: Bricks & Tiles Eastern Europe; Pipes & Pavers Western Europe
Bricks & Tiles Eastern Europe Results 1-3/2013 Share of Group Ext. B&T Eastern Europe (in € mn) 1-3/2012 1-3/2013 Chg. in % Revs. 1-3/2013 External revenues 51.7 51.2 -1 Operating EBITDA 1) -0.7 -3.2 <-100 Operating EBITDA margin -1.4% -6.3% - Operating EBIT 1) -12.5 -12.8 -2 10% 1) Adjusted for non
Slide 9: Pipes & Pavers Eastern Europe; North America
Pipes & Paver Eastern Europe Results 1-3/2013 Share of Group Ext. P&P Eastern Europe (in € mn) 1-3/2012 1-3/2013 Chg. in % Revs. 1-3/2013 External revenues 13.8 64.0 >100 Operating EBITDA 1) -3.4 -3.2 +6 13% Operating EBITDA margin -24.6% -5.0% - Operating EBIT 1) -6.5 -8.7 -34 1) Adjusted for non-r
Slide 10: Holding & Others; Outlook 2013
Holding & Others Results 1-3/2013 Share of Group Ext. Holding & Others (in € mn) 1-3/2012 1-3/2013 Chg. in % Revs. 1-3/2013 0% External revenues 1.3 1.5 +15 Operating EBITDA 1) -4.5 -3.8 +16 Operating EBITDA margin <-100% <-100% - Operating EBIT 1) -6.6 -4.9 +26 1) Adjusted for non-recurring income
Slide 11: Market Estimates 2013 and Outlook 2013
Bricks & Tiles Europe: Management Market Estimates 2013 Management Estimates housing starts 2013 Market growth Stable development Market decline Source: Management Expectations Wienerberger 21 Outlook 2013: Revenue and Earnings Growth Expected Bricks & Tiles Europe: - Moderate volume decline - Cos
Slide 12: Restructuring Program on Schedule; Assumptions for Group 2013
Implementation of Restructuring Program on Schedule Restructuring program in implementation: - Bundling of production, administrative and sales activities in the Bricks & Tiles Europe Division - Plant clusters and shifts of products to other locations concentrated in the Netherlands, Belgium and F
Slide 13: Wienerberger Investor Relations
Wienerberger Investor Relations Wienerberger AG, A-1100 Vienna, Wienerbergstrasse 11 Tel +43 1 60192 - 10221, Fax +43 1 60192 - 10425 [email protected] | www.wienerberger.com 25 13